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Technology Stocks : Critical Therapeutics (CRTX)
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To: nigel bates who wrote (7)6/28/2005 4:15:11 PM
From: tuck  Read Replies (1) of 31
 
[Zyflo manufacturing deal]

>>NEW YORK (AP) -- Shares of Critical Therapeutics Inc. jumped 10 percent on Tuesday after the company said it entered a manufacturing agreement for commercial supplies of its Zyflo asthma treatment, bringing the company a step closer to relaunching the drug it bought from Abbott Laboratories last year.

Zyflo has been approved for sale since 1996, but Critical Therapeutics is still in the process of changing manufacturing sites and is waiting on Food and Drug Administration approval of the changes. The company has said it expects to relaunch the drug sometime between July and December.

Critical Therapeutics said in a filing with the Securities and Exchange Commission that it will contract at least half of the manufacturing of Zyflo for U.S. sale to Patheon Pharmaceuticals Inc. Patheon previously made the drug for clinical trials and its regulatory review. The initial deal is for three years with automatic one-year extensions thereafter unless the companies give notice of a desire to end the contract.

Zyflo tablets are approved to treat asthma symptoms and decrease the number of acute attacks.

Critical Therapeutics shares rose 50 cents, or 7.7 percent, to $6.98 on the Nasdaq. The stock, which rose as much as 10.2 percent to $7.14 earlier in the day, hit a 52-week high of $8.49 in December.<<

Still needs the FDA checkup, right, so we're looking at the December end of the time scale, IMO.

Cheers, Tuck
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